Despite months of conflict, attacks on Gulf states and continuing disruption in the Strait of Hormuz, oil supplies remain well above worst-case forecasts. Why? We ask Atlantic Council energy expert Ben Cahill how much oil is still flowing, and why it is so difficult to have an exact answer.
Chapter Breakdown
0:00 International Energy Agency Chief Fatih Birol called the Iran war crisis the “largest energy crisis in history” in May 2026 – was he wrong?
0:20 Iranian military threat to petro states in the Persian Gulf still present
0:59 Why aren’t oil prices higher?
01:12 Energy Secretary Chris Right says over 17 million barrels of oil went through the Strait of Hormuz on September 1st, 2026
01:42 Ben Cahill, Non Resident Senior Fellow at the Atlantic Council’s Global Energy Center, discusses discrepancy between US gov’t claims on oil transit through the Strait and shipping tracker data
3:35 How far away are we from shipping traffic returning to normal?
4:51 Iran war has been going on for 6 months – is that enough time for producers to find alternative routes?
7:50 Is the US blockade effective? Reports that Iran has not exported oil for seven weeks
8:32 US Treasury Secretary Scott Bessent claims Hormuz will be worthless to oil industry in two years
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